Wake Forest, Wake County, North Carolina Property Taxes
Median Wake Forest, NC effective property tax rate: 1.17%, significantly higher than the national median of 1.02%, but lower than the NC state median of 0.82%.
Median Wake Forest, NC home value: $331,294
Median annual Wake Forest, NC tax bill: $3,436, $1,036 higher than the national median property tax bill of $2,400.
How are property taxes in Wake County calculated?
Property taxes in Wake Forest, NC are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Wake Forest’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wake Forest, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wake Forest, Wake County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.17%
Estimate Property Tax Bill
$3,876
$3,597
Ownwell’s Wake Forest Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Wake Forest with just two data points.
By entering your property's estimated assessed value, our calculator applies Wake Forest’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Wake.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Wake Forest, Wake County, North Carolina
Local government entities are responsible for setting property tax rates, which can differ significantly within a state. This variation occurs because each county annually estimates the budget it requires to provide essential services and divides this by the total value of all taxable properties within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the process followed each year.
Wake Forest in Wake County, North Carolina, has an effective property tax rate of 1.17%. This rate is higher than the national median property tax rate of 1.02%. However, it aligns with the highest and lowest median tax rates within the area, which are both 1.17%.
This comparison highlights how property tax rates can vary not only between states but also within regions of the same state. Understanding these differences can be crucial for property owners in managing their tax liabilities effectively.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Wake Forest Tax Rate
1.17%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Wake County Tax Rate
1.10%
Median Effective North Carolina Tax Rate
0.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Wake Forest, Wake County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27587 | 0.78% | 0.79% | 1.17% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Wake Forest, Wake County, North Carolina
When examining property taxes in Wake Forest, NC, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Wake County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Wake County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Wake Forest. For example, the median home price in Wake Forest is $331,294, with tax bills ranging significantly across the county. Zip code 27587 has the highest median home price at $331,294.
Property Tax Assessment Values Across Wake Forest, Wake County, North Carolina
Source: Ownwell
$174,058
$394,571
$615,084
Median Wake Forest Market Value
$331,294
Median Wake County Market Value
$302,078
Median North Carolina Market Value
$197,136
Median United States Market Value
$235,294
Property Tax Assessment Values Across Wake Forest, Wake County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27587 | $171,962 | $244,343 | $331,294 | $424,318 | $572,106 |
Source: Ownwell
Property Tax Bills Across Wake Forest, Wake County, North Carolina
Median Wake Forest Tax Bill
$3,436
Median Wake County Tax Bill
$3,098
Median North Carolina Tax Bill
$1,615
Median United States Tax Bill
$2,400
Property Tax Bills Across Wake Forest, Wake County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27587 | $1,595 | $2,410 | $3,436 | $4,478 | $5,456 |
Source: Ownwell